Energy Drink Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Energy Drink Market, Encompassing Energy Beverages and Energy Supplements, is Experiencing Significant Growth Due To Increased Global Soft Drink Consumption, Rapid Urbanization, Higher Disposable Incomes, and Busy Lifestyles. The Rise in Health Consciousness is Driving Demand for Non-Alcoholic Drinks Like Performance Drinks and Stamina Boosters, Which Enhance Mental Alertness and Physical Performance. The Market, Segmented by Product Type, Packaging, Distribution Channel, and Geography, is Competitive With Leading Players Focusing On Sugar-Free, Healthy, Zero-Calorie, and Low-Sugar Power Drinks, and Promoting Through Celebrity Endorsements and Sports Events.

Energy Drink Market Size

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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 8.51 %
Fastest Growing Market South America
Largest Market North America
Market Concentration Low

Major Players

Energy Drinks Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Energy Drink Market Analysis

The Energy Drinks Market is expected to register a CAGR of 8.51% during the forecast period.

  • The energy drinks market size is expected to grow from USD 60.78 billion for the current years and is projected to register a CAGR of 8.51% over the next five years.
  • The primary factor behind the significant market growth is the rise in consumption of soft drinks worldwide. A survey by The Federal Statistical Office shows that the annual average per capita consumption of soft drinks in Germany increased from 114.7 liters in 2020 to 118.4 liters in 2021. Apart from this, rapid urbanization, improving disposable incomes, and busy lifestyles of individuals are other major factors boosting market growth. Moreover, with the growing health consciousness among individuals, non-alcoholic beverages are gaining immense traction worldwide, propelling market growth.
  • According to UN Comtrade statistics, the amount of non-alcoholic beverages imported to Hungary peaked in 2022 at 174 million euros from 154 million euros in 2021. Furthermore, the increasing participation of individuals in professional sports, recreational outdoor activities, and exercise and physical fitness is creating demand for dietary supplements, such as energy drinks. Energy drinks are functional beverages that help increase energy and enhance mental alertness and physical performance.
  • Leading players are further focusing on developing sugar-free drinks to cater to the needs of individuals with diabetes and other chronic illnesses. For instance, in 2022, an Australian soft drinks company, Nexba, launched a range of caffeine- and sugar-free energy drinks with added vitamins and prebiotics. Nexba Natural Energy drinks are free from artificial ingredients and available in two flavors: Lemon & Yuzu and Wild Citrus. The company claims the flavors contain ginseng extract, vitamin B complex, and vitamin C to improve gut health and enhance energy levels. Therefore, the abovementioned factors will likely influence the market positively during the study period.

Energy Drink Market Trends

Consumers Seeking Healthier Alternatives to Alcoholic and Sugary Beverages

  • Alcohol consumption is among the top risk factors for disease globally. According to World Health Organization (WHO), the harmful use of alcohol is a causal factor in more than 200 disease and injury conditions. It causes over 3 million deaths yearly, representing 5.3% of all deaths. Furthermore, a survey published by The National Center for Health Statistics revealed that the death rate from alcohol abuse in the United States increased from 13.1 to 14.4 deaths per 100,000 population from 2020 to 2021. Therefore, there has been a rise in the demand for healthier alternatives to traditional alcoholic beverages to reduce alcohol dependence. This acts as the leading factor driving the market for energy drinks worldwide.
  • Apart from this, with the increasing prevalence of diabetes and other chronic illnesses, consumers are becoming more conscious of their diet and incorporating healthy eating habits into their daily routines. Moreover, key players are capitalizing on customers' demand for lower sugar options to expand their consumer base. For instance, in 2023, Rockstar Energy expanded its product portfolio by launching two refreshing, zero-sugar flavors, namely Rockstar Refresh Strawberry & Lime and Watermelon & Kiwi. The company claims the flavors provide delicious, refreshing flavors with a crisp finish, high in vitamin C, zero sugar, and only 21 calories per can. Such factors are anticipated to provide a thrust to the market in the future.
Energy Drinks Market: Market Share of Regular, Mid and Low Calorie Variants of Carbonated Soft Drinks (in %), United Kingdom, 2021

North America Dominates the Market

  • The major constituent in most energy drinks is caffeine. According to the United States Association, about 90% of Americans consume caffeine regularly. This represents the major sustenance factor for the high consumption of energy drinks in North America. Moreover, with high-income levels and health consciousness, individuals seek active lifestyles, leading to increased interest in sports and other sorts of physical activities.
  • As a result, key players capitalize on these marketing outlets to reach a broader consumer base. For instance, in 2021, Red Bull, an Austrian company mainly focused on energy drinks, started its newest world sports series, the FIM Hard Enduro World Championship, as a part of its sports-based marketing strategy. These marketing strategies are a success story of making a specific drink well-known, especially among young people.
  • Furthermore, exposure to digital marketing enhances interest in energy drinks among young adults, especially the Gen Z population. Gen Z is attracting interest as the most recent generational cohort of consumers and encouraging leading players to adopt innovative strategies to keep up with evolving trends and retain their position in the market. For instance, in July 2023, C4 Energy, an American energy drink brand, partnered with WWE to roll out its new co-branded energy drink products. According to the company's claims, this partnership is crucial for targeting Gen Z consumers, who seek authenticity from marketers and influencers.
Global Energy Drinks Market 2

Energy Drink Industry Overview

The energy drink market is competitive, with international players enjoying the most significant fraction of total sales. Key players in the market include Red Bull, Monster Beverage Corporation, Eastroc Beverage, Suntory Holdings, and PepsiCo. Companies operating in the market are focusing on product personalization and convenience and providing healthy, zero-calorie, and low-sugar variants. Another critical strategy adopted by leading players is advertising through celebrity endorsements and sports event sponsorships. They are also emphasizing partnerships with domestic players to scale their production and into the huge potential for growth in developing regions.

Energy Drink Market Leaders

  1. Red Bull GmbH

  2. PepsiCo, Inc.

  3. Monster Beverage Corporation

  4. Eastroc Beverage

  5. Suntory Holdings

*Disclaimer: Major Players sorted in no particular order

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Energy Drink Market News

  • March 2023: Red Bull launched its Summer Edition line with a new Juneberry flavor energy drink across the United Kingdom. The company claims that the Juneberry drinks are launched into major retailers nationwide and made available in single and multipack formats.
  • October 2022: Red Bull strategically partnered with Keurig Dr. Pepper to distribute and sell its products across Mexico.
  • September 2022: Coca-Cola Europacific Partners (CCEP) added two new flavors to its Monster line-up to attract a broader consumer base. Monster Reserve White Pineapple and Monster Reserve Watermelon were two flavors added to Monster's traditional energy drink range.

Energy Drink Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Shots

      2. 5.1.2 Drinks

    2. 5.2 Packaging Type

      1. 5.2.1 Bottles (PET/GLASS)

      2. 5.2.2 Cans

    3. 5.3 Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Convenience Stores

      3. 5.3.3 Online Retail Stores

      4. 5.3.4 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 Spain

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Red Bull GmbH

      2. 6.3.2 PepsiCo Inc.

      3. 6.3.3 The Coca-Cola Company

      4. 6.3.4 Vital Pharmaceuticals Inc.

      5. 6.3.5 Suntory Holdings Limited

      6. 6.3.6 Monster Beverage Corporation

      7. 6.3.7 Eastroc Beverage (Group) Co. Ltd

      8. 6.3.8 Dali Foods Group Company Limited

      9. 6.3.9 Osotspa Public Company Limited

      10. 6.3.10 Living Essentials LLC

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Energy Drink Industry Segmentation

An energy drink generally contains stimulants, such as caffeine, to provide an energy boost to improve physical and cognitive performance. It can also be carbonated and contain sweeteners, herbal extracts, taurine, and amino acids.

The market studied is segmented by product type, packaging type, distribution channel, and geography. By product type, the market is segmented into shots and drinks. By packaging type, the market is segmented into bottles and cans. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.

The market sizing has been done in value terms in USD for all the abovementioned segments.

Product Type
Shots
Drinks
Packaging Type
Bottles (PET/GLASS)
Cans
Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
Spain
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa
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Energy Drink Market Research FAQs

The Energy Drinks Market is projected to register a CAGR of 8.51% during the forecast period (2024-2029)

Red Bull GmbH, PepsiCo, Inc., Monster Beverage Corporation, Eastroc Beverage and Suntory Holdings are the major companies operating in the Energy Drinks Market.

South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Energy Drinks Market.

The report covers the Energy Drinks Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Energy Drinks Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The increasing focus on sugar-free options in Europe, and continued dominance of established brands in North America are the key regional trends in Energy Drink consumption.

The potential future trends shaping the Energy Drink Market are a) Focus on organic options b) Technology integration

Energy Drink Industry Report

The global energy drinks market is witnessing significant growth, driven by their popularity for providing instant energy and mental and physical stimulation. Key ingredients like caffeine, taurine, ginseng, and guarana, known for enhancing physical performance and mental alertness, are contributing to this growth. The market is segmented into alcoholic and nonalcoholic drinks, with the latter seeing substantial growth due to its ability to boost energy by improving physical and cognitive performance. The market also segmented by end-users into kids, adults, and teenagers, with the adult segment experiencing significant growth due to increased consumption by working adults aiming to maintain a healthy lifestyle. A shift in consumer preference towards healthier beverages and lifestyles is creating opportunities for market expansion. However, potential health risks associated with caffeine overdose may limit growth. According to Mordor Intelligenceā„¢ Industry Reports, statistics for the Energy Drinks market share, size, and revenue growth rate are available, including market forecast and historical overview. A sample of this industry analysis is available as a PDF download.

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Energy Drink Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)